Government is asking for realistic expectations as the nation begins to drill oil in commercial quantities next month. Finance Minister Dr Kwabena Duffuor said the nation expects an estimated revenue of GH¢584 million which represents only 1.9 per cent of the country’s Gross Domestic Product to support the 2011 budget. The amount, according to the minister, also represents six per cent of the country's total expected revenue for the year. Sections of the public, particularly residents of the Western Region where the oil was struck have been exceedingly expectant of a signficantly improved standard of living. Chiefs from the region are demanding ten per cent of the total oil revenue to embark on a rigorous infrastructural development in the country. A combined effect of all these have heightened expectations on the impact the oil revenue could have on the country. However in presenting the 2011 Financial Statement on the floor of Parliament on Thursday, the Finance Minister Dr. Duffuor maintained that the oil revenue could also pose another major challenge for the economy. Whilst conceding that the oil revenue will provide “fiscal space that should help us accelerate economic growth,” he was worried future development assistance and budget support will not be forth coming. “For the first 3 to 4 years, however, the oil revenue will be considerably lower than the non-oil tax and non-tax revenues. “For the fiscal year 2011, the expected revenue from oil sales will represent only 6 percent of total domestic revenue. “We all, therefore, need to help manage public expectation,” he said. He consequently called for prudent management of the oil revenue to prevent the chaos that has greeted oil discoveries in parts of the world. Source: Myjoyonline.com/Ghana